JETS takes flight, up 5% and on track for best day in 6 weeks

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U.S. Global Jets ETF , an exchange-traded fund tracking the global airline industry, rose more than 5% Monday, on track for its best day since July 15, following the decision of the Food and Drug Administration over the weekend to approve the use of convalescent plasma for use as a potential treatment for COVID-19. Airline stocks have been hammered during the height of the coronavirus pandemic and reports of treatments have buoyed the group. Shares of American Airlines Group Inc. were up 10%, while United Airlines Holdings Inc. shares jumped more than 9% and Delta Air Lines Inc. shares rose 8.7%. JETS has drawn attention for its popularity among retail investors using the online platform Robinhood to place their bets. Over the past month, it’s up about 9.5%, roughly in line with the best-performing stock index, the Nasdaq Composite . But since the March 23 market bottom, it’s gained only about 35%, compared to a 66% surge for the Nasdaq and a 53% jump for the broader S&P 500 .
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